Short sellers are often the only sheriff on Wall Street, a crucial role in a rigged stock market – easy to forget after the furor over the “most shorted stocks.”
The historic short squeeze, engineered by a bunch of deeply cynical small traders, exposed just how rigged the market has been (transcript of my podcast).
“There is no justification” for continuing the purchases of mortgage-backed securities. The Fed is “misdiagnosing its impact on the housing market.” Pressure rises on the Fed to back off, in face of market craziness.
High costs, working from anywhere, and sudden dislike for towers trigger large-scale shifts in the housing market. Tulsa is paying people with full-time work-from-anywhere jobs to move there.
